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Connected digital economy in Britain

The connected digital economy affects governments as well and businesses. In this TV show Martha Lane Fox discusses Digital Britain becoming a reality.

Connected digital economies around the world

It’s enormously patchy around the world. Different countries speeding towards a kind of fabulous digital future, and some slightly more in the slow lane.
But actually the UK is in not bad positioning to be fair to both governments, because I was actually employed in the previous lot, they did really understand, and do really understand that the internet is changing the way that the government can operate.
It’s changing the way the government can have a relationship with us as citizens, and a huge amount has happened both around how it procures ICT, how the UK government looks online, how thinking about the most disadvantaged people and digital skills.
So I actually think the UK is doing a pretty good job, some countries in the world are doing incredibly well.
Singapore is always held up as an example, but actually the biggest nation of geeks is Estonia.
The Estonian president I was lucky enough to meet is an absolute , kind of, software guru, and has moved the country to be 99% online. So they’re the kind of absolute pinnacle.
______________________________________________________________________Connected Economy TV has further expert discussion about the connected digital economy.

Connected digital economy in Britain

The connected digital economy affects governments as well and businesses. In this TV show Martha Lane Fox discusses Digital Britain becoming a reality.

Connected digital economies around the world

It’s enormously patchy around the world. Different countries speeding towards a kind of fabulous digital future, and some slightly more in the slow lane.
But actually the UK is in not bad positioning to be fair to both governments, because I was actually employed in the previous lot, they did really understand, and do really understand that the internet is changing the way that the government can operate.
It’s changing the way the government can have a relationship with us as citizens, and a huge amount has happened both around how it procures ICT, how the UK government looks online, how thinking about the most disadvantaged people and digital skills.
So I actually think the UK is doing a pretty good job, some countries in the world are doing incredibly well.
Singapore is always held up as an example, but actually the biggest nation of geeks is Estonia.
The Estonian president I was lucky enough to meet is an absolute , kind of, software guru, and has moved the country to be 99% online. So they’re the kind of absolute pinnacle.
______________________________________________________________________Connected Economy TV has further expert discussion about the connected digital economy.

Digital Generation in every industry

In every industry in the world technology, the power of technology and this new generation of young people who use the technology in such different ways are gonna come into these industries and blow these industries apart.
I really do believe that we're only just at the beginning of realising what this digital age will mean for us, and that's everything from the automotive industry to the pharmaceuticals from supply chains and logistics, to manufacturing to financial services and everything else in between.
And so industries need at look at where technology is going to take them in the next few years.

Digital Economy enables a new workflow

In this digital economy people are able to send and share information more easily, which makes some business transactions more efficient. In this TV show Keith Holdt explains the concept of 'Digital Pigs.'

Digital Economy and it's 'Digital Pigs'

Another point of view or another perspective is to say, well what if we didn’t only make information available at certain points within the workflow? What if we simply made it available in a sort of repository so that those people within the organisation, regardless of where they come from who need that information can simply go and fetch it from me, in the same way that you might say that pigs would go and feed around the trough all at the same time. One of the key concepts of the pigs around the trough idea is that it can’t really happen effectively in a paper based process, simply because paper by its very nature is sequential. You’ve got to work on it and you’ve got to hand it over to the next person or the next activity before something and before it can be processed or an event can happen around it. It’s only when you start automating that process, making the information available electronically or in a digital fashion that various parts of the organisation, various resources, various people/individuals can come around at the same time and access that information as and when they need it, thereby making the whole way of performing the activity or carrying out the transaction that much more effective.
Browse more videos on Connected Economy TV for further discussion of new concepts emerging from the digital economy.

Connected marketing that uses digital channels to engage with customers is more effective and cheaper than what came before, as Stan Rapp explains in this TV show.

Connected Marketing is a fundamental change

Technology has changed marketing, fundamentally. It is changed it in the best possible way. It has lowered the cost, and increased your opportunity to come up with a tremendous ROI. There never has been a better time for marketers. Once you have a website, and once you have Facebook, and once you have Twitter, you are in better touch with your customers than the traditional direct marketers ever were with their direct mail. People are welcoming your messages. They're looking for you.
If you are interested in ideas about connected marketing and the digital economy, please browse more videos on Connected Economy TV.

Digital engagement not just a buzz word

Digital engagement gives businesses a fantastic way to connect with customers and build their business, as Don Peppers explains in this TV show.

Digital engagement: Who do consumers trust?

If a business wants a home in the future, they have to have their own collection of friends who wish them well, of customers who want them to succeed, of customers who want the best for the brand because it's also the best for them. I think a lot of businesses think of engagement as sort of the marketing buzz word du jour. But it's not a buzz word. it encapsulates a very, very important real thing, that businesses today have more capability to actually participate in interactions and conversations and relationships with individual customers, one customer at a time, then they've ever had before.
Keep an eye on Connected Economy TV if you are interested in digital engagement. There will be more expert discussion and industry success stories.

UK innovation: we’re not quite world leaders

In this TV show John Kay discusses UK innovation. He compares new business development here to what is happening in other countries'.

More UK innovation please

I don’t think we have lost the art of developing new businesses and there are lots of people in the small, medium size enterprise sector who are developing exciting new businesses. But I think our success in developing businesses with competitive advantages over the last two or three decades doesn’t compare very well with the United States on the one hand that has created really exciting businesses of the Apple, Amazon, Google type or with a country like Germany where a lot of quite long established power house businesses have gone on developing their businesses successfully in new markets. There are some British companies that have been successful in these kind of ways but not enough and we need to try and ensure there are more of them.
Connected Economy TV will continue to look out for examples of UK innovation and will be following the surrounding discussion.

Digital Economy has two sides

The digital economy affects traditional companies differently to how it affects new ventures. Sara Daw explains the FD's role in helping businesses succeed in the digital world.

Digital Economy and Financial Directors

The digital economy for me has two elements to it. I think there are those new businesses right now who are new ventures, emerging technologies and they are trying to do business in the new economy with that at the centre of their business model. So those businesses are basically fighting for funding because they’ve all got new ideas that are going to go to market. So there’s one element there is which are the ones that are going to succeed and which ones do you back. There’s also really understanding what business models they’re going to operate. And I think that’s the key thing that an FD can bring, the funding and understanding the business model and getting that working for those new businesses. Then on the other side there’s traditional businesses that have never operated in the digital economy before. Yet they know those businesses have to embrace it in some way. And those businesses also have to develop a business model if you like for the digital economy. And they have to fund it. But I don’t see that as their main issue. What I see as their main issue is winning the hearts and minds of the people in the business to make the change. And therefore that’s the FD’s role in some respects in working with the entrepreneur in understanding the business case to put that forward to people so that they do feel that it is worth them changing and embracing that economy.
If you are interested in discussion about the digital economy, please browse more videos on Connected Economy TV.

Technology infrastructure needs government investment

The hospitality industry would benefit from investment in technology and infrastructure. In this TV show Sir David Michels explains that government successfully invests in failed industries.

Technology, infrastructure and investment

I don’t think the hospitality industry generally needs any subsidisation. It will always ask to pay less tax, to be more equal to our European partners, but I don’t think that’s the main thing that the hospitality industry would ask for. It would ask for investment in infrastructure, investment in technology where it is appropriate, investment in an industry where they have never invested before. Government has been wonderful at investing in failed industries; Coal, steel, I won’t give the whole list. But it always seems to put its money on industries that are no longer relevant. Maybe not always but very often. What it doesn’t do is find industries that are growing and invest in them because from their view they don’t need help. History tells us that if you invest more in the successful, and less in the unsuccessful, you’ll get a higher return. Now it’s our fault if we haven’t been able to convey that message, but it’s one message we are desperately trying to convey.
If you enjoyed this video about technology, infrastructure, and investment, please explore more TV shows on Connected Economy TV.

Data strategy for unstructured data is the next challenge

Data strategy is increasingly important for organising the vast amounts of data that companies have, as Gayle Sheppard explains in this TV show.

Data Strategy for decision making

Well, companies have a long way to go in capturing unstructured textual data. Companies have done a pretty good job of capturing structured, transactional data. Relational databases, data warehouses, have evolved to help them organize data so it can be analyzed in traditional ways. I think the big challenge for companies in the future is really -- maybe there are three elements to it, actually.
One is that there are so many mergers and acquisitions that have transpired across the Fortune or Global 1,000 that there are many databases or data warehouses that contain information. And they are treasure troves of information. But integrating them or bringing them together in any way that makes sense is very challenging for corporations. It's very expensive to do it. It takes a lot of time. And these databases are filled with disparate ways of describing things. So the challenge is quite great. How do we bring all of this data together?
So, that's the first challenge. The second challenge I see in corporate America is how do we take advantage of all the text that we have? Customers write us. They send us messages on the web. We capture notes about our customers, our partners, our suppliers, employees. We have emails rich with information coming in from outside as well as inside the company about what's happening, whether it's customer-related or employer-related.
And so how do you take all of that information and make it part of the knowledge base? Not just transactions. Who bought from us, who do we sell to. Who was the supplier that we used in this particular situation. But the comments that actually capture experiences that we're having in real time with our partners, suppliers, and customers is truly an important part of the knowledge of a corporation. And companies haven't figured out how to use that yet. That's one of the things that Saffron helps them with, but that's challenge number two. All that textual information inside our company.
And then challenge number three is, how do we then go out to the web, how do we go to the resources we have available to us, whether it's open source news or blogs or other social networks, and capture the essence of that experience into our corporate knowledge base, so we can also use that information as part of our decision making process.
Connected Economy TV is very interested in new data strategy for the digital world, explore our channel for more discussion.

Innovative technology works like human memory

Innovative technology from Saffron Technology aims to make business intelligence more natural by capturing people, places and things in a memory base. Gayle Sheppard explains in this TV show.

Innovative technology for a knowledge base

Saffron was conceived with the idea of making business intelligence natural and providing natural intelligence for everyone. That's the core of our foundation. And we did that by creating a technology that is essentially biologically inspired. We capture memories of people, places, and things. And in those memories, we don't store data, we actually store the connections of other people, places, and things that are connected to you, or that event, or that company, or that thing.
And with that, we also count the frequency so we can understand the strength of those connections. What that does is provide us a fundamental base of knowledge that can be used in sense making, decision support, and anticipation or prediction. And with that, no rules, no models. It's one of the great things about natural intelligence. And we naturally can ask questions of our memory, just like we do as humans. We store information in our brains, we recall it automatically, and we apply reasoning methods to it. That's exactly what Saffron does.
What we do is, through having a memory base, which is a base of knowledge about all the people, places, and things in data, and all the connections they have with other people, places, and things, we can explore hunches very easily. So if I were asking the question, gee, I think I've seen this before. Where have we done this before? I could ask that question of Saffron's memory base, and it would provide back to me, in more specific context of the thing, the event, the situation I'm discussing, where we've actually done it before. What the outcomes were. Were we successful. Were we not successful. Who was involved. Where did we do it. How long did it take. So that's an experience-based reaction to a question. Based on knowledge, implicit knowledge and explicit knowledge that we have about people, places, and things in the data.
If you found Gayle Sheppard's explanation of this innovative technology interesting, then please browse more shows on Connected Economy TV.

Digital world moves markets quicker

The digital world and mobile technology means that information is more easily available. This has caused the pace of business to increase as Arthur de Haast explains in this TV show.

Digital world and data interpretation

The digital world just makes things move a lot more quickly, it gives people access to a lot more information. You know, we’ve just launched our own app so that people can, you know, click on that. They can tap on it rather, not click these days, tap on the screen. And it tells them, you know, what opportunities or what investment opportunities there are available in that locality, can direct them to it, can give them basic information and so on. So that makes the market move more quickly, it’s a lot more transparent and actually information in its own right is no longer valuable because everybody has information. What is now much more important and what we concentrate on is how do you then interpret that information and use it to give good advice to people who want to invest and so on. So it means that you’re having to think much harder about the value add and how you’re going to, so on the one hand it’s very positive and it creates, you know, speed to market and that sort of thing. But at the same time it means that we’ve got to think a lot harder about how we can add value and look after our clients, given that what’s happening in that space.
If you found this video interesting and want to hear more about the Digital world and data interpretation, please browse more videos on Connected Economy TV.

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